One trillion spent for the first time in ads... Despite initial predictions that AI chats like ChatGPT would disrupt the advertising budgets of giants like Google and Meta, the advertising market continues to grow reaching $1 trillion in 2024. This growth is partly due to the integration of AI technologies complementing rather than cannibalizing traditional advertising channels, driving innovation and growth across the industry. 😀 We are excited to help advertisers maximising every dollar they spend with Google Ads thanks to AI. https://lnkd.in/emweCad5
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Whenever I see a stat like "AI for ads is at 70% and will grow to 90%" my mind immediately zags. In a perfect world, AI would harmoniously match audiences to every brand and profits would skyrocket for everybody. That logic doesn't really track for me because that's not how the world works. So what does AI in advertising mean, specifically on places where people shop like Amazon, Walmart, Target, Instacart, etc.? If everyone is going to use automation, that's the new floor. I talk about this all the time with people wanting to use Pacvue for full AI. You can totally do it, but you need to make sure you're in the data and using the extra capacity to understand your audience more intimately and/or your competition. Create more advanced workflows with the data. Like most things in life, it's not the easy thing that wins. It's what you do with the capacity the easy thing creates. And if an AI tool/platform doesn't give teams a way to reinvest effort, it's just going to create another question mark around why you're not winning. Or maybe I'm wrong and it's just going to be all investors and robots in 2030 idk.
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Was reading this WSJ piece on how advertising will finally hit $1 Trillion in revenue in 2025. But what really stood out to me, was a little addendum at the bottom of the piece. "GroupM also said it now expects 69.5% of advertising revenue will be informed by artificial intelligence this year and will grow to 94.1% by 2029. The high proportion reflects how much ad revenue goes to companies such as Google, Meta and Bytedance, which are heavy users of AI tools." As an industry we talk a lot about AI replacing jobs, loosing creativity, etc. But I haven't heard as much conversation on how much our work is supporting and boosting these major AI companies. And what the ramifications are of continuing to put the majority of ad dollars in AI driven media platforms. Anyone else shocked by this one? Thoughts? Article linked for reference. https://lnkd.in/gMv7keKF
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Media Forecast Says AI Will Power 90% Of Ad Buying By 2029. As the FCC moves to regulate the use of artificial intelligence in advertising for the first time, a new analytical prediction from global ad buying agency WPP reveals that the majority of ad revenue will be AI-enabled by the end of the year. #AI #radioadvertising #programmaticadvertising #radioconsultingservices https://lnkd.in/dS7h5gwr
GroupM Releases its This Year Next Year 2024 Midyear Global Advertising Forecast - GroupM
groupm.com
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Advertising is beset with agency restructuring and a shift from media-agnostic ideas to creative-agnostic media. China is a great example. “Leading tech firms and top online advertising platforms such as Tencent, Alibaba Group, Baidu, ByteDance and Kuaishou Technology … now claim that they can generate large volumes of ad content with a single click, with algorithms optimising both selection and distribution… With AI-generated content (AIGC) at the forefront, ad automation has reached new heights, as systems identify top-performing content from a vast array and pair it with ideal bidding and placement strategies... AI is helping advertisers achieve their ultimate goal: reaching targeted users with personalised ad content.” However both government and artists are resisting an open-ended approach for Gen AI content. Sources: https://lnkd.in/gPwWzhDY https://lnkd.in/gDViHMqY https://lnkd.in/g2aBstkG
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“This transformation of the media ecosystem is happening with such speed and complexity that it’s difficult for large brands or holding companies, let alone an independent advertising agency, to navigate. However, if their ad tech partner has the vision to complement their AI-powered tools with technology built for the modern digital advertising landscape, brands, advertisers and agencies alike are more likely to succeed.” Tech isn't some magic wand to wave at all your problems. Tech is only as good as the person using it. Interesting article from Digiday about using AI to sort and understand valuable consumer data. Marketers-- do you think that the latest AI enabled ad-tech will make things easier, and do you trust it? It seems like everyone is touting these amazing use-cases, but it's still mirky on how well AI can execute them. In general, what are your thoughts on the shift from third party to first party data collection? Drop a comment below! #FirstPartyData #AdTech #DataCollection #AI
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Media Forecast Says AI Will Power 90% Of Ad Buying By 2029. As the FCC moves to regulate the use of artificial intelligence in advertising for the first time, a new analytical prediction from global ad buying agency WPP reveals that the majority of ad revenue will be AI-enabled by the end of the year. #AI #radioadvertising #programmaticadvertising #radioconsultingservices https://lnkd.in/d_cPxrzD
GroupM Releases its This Year Next Year 2024 Midyear Global Advertising Forecast - GroupM
groupm.com
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The latest insights from AdExchanger’s article, “Programmatic I/O: How Programmatic Platforms Can Capitalize On The Open Internet,” highlight the evolving landscape of programmatic advertising. Despite a modest 3% growth in open programmatic ad spend since 2021, there are significant opportunities for platforms to thrive. Key takeaways include the importance of transparency, leveraging advanced technologies like AI, and addressing challenges such as data privacy and ad fraud. The future looks promising as the industry adapts to new regulations and technological advancements. Credit Alyssa Boyle, Full Article below. #SigmaSoftwareUSA #AdTech #Programmatic #AI #ML #DataPrivacy #AdFraud #Transparency #OpenInternet
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I read an interesting article earlier about AI ads. Nearly half of consumers believe they can tell the difference between ads created by AI and traditional ones. What I found interesting is 49% say it doesn't matter as long as the ad is convincing. The study by LG Ad Solutions shows that for nearly half of consumers, the source of an ad—AI or human—doesn't overshadow its ability to persuade. There is huge investment in tech start ups utilising AI , with £3.5B secured in the UK. Some of the appeal is hyper-personalised campaigns. 74% of consumers feel ads are increasingly tailored to them. Interestingly, while there's an appetite for AI-driven personalisation in ads, the call for regulation is growing, particularly with political advertising as we near the 2024 elections. What are your thoughts on AI-generated advertising? #ai #advertising #innovation #marketingmoves
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The growing dominance of digital platforms is a signal for advertisers to adapt strategies and embrace AI to stay competitive in a rapidly evolving market. #marketing #tech https://lnkd.in/dBbWvxE4
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Yes, there was a lot of talk about AI, retail media, CTV and more at #Cannes2024. But what were people paying attention to when it came to... attention? 🕶 At Lumen, we noticed three key trends for the future of the attention industry: Scale, trust, and action. Read our thoughts below: ⬇ https://lnkd.in/e58GBxTf
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